Daily Intelligence Capsule — 9 October 2026

Latest EditionLatest Edition — Friday, 9 October 2026

RBI

's New Credit Valuation Adjustment Framework: What Bank Derivative Desks Must Build Before April 2027

RBI's final Credit Valuation Adjustment Framework Directions, 2026 (issued 7 October) set new capital rules for commercial banks' derivative books, effective 1 April 2027 -- the Basic Approach (BA-CVA) or a size-based alternative for smaller derivative books.

Read the briefing

Companies Act

MCA Replaces the 2015 Cadre Rules: What the New Indian Corporate Law Service Rules, 2026 Change for ROC and Official Liquidator Offices

MCA's Indian Corporate Law Service Rules, 2026 (G.S.R. 863(E), 6 October) replace the 2015 Rules governing the Group 'A' cadre that staffs ROC and Official Liquidator offices -- 362 sanctioned posts, 60:40 UPSC/promotion recruitment.

Read: MCA Replaces the 2015 Cadre Rules: What the New Indian Corporate Law Service Rules, 2026 Change for ROC and Official Liquidator Offices

Customs

Smartphone Screen Protectors Now Need BIS-Standard Certification: CBIC's Customs Instruction on the New IS 19348:2025 Mandate

CBIC Instruction No. 20/2026-Customs (7 October) relays MeitY's new mandate requiring smartphone screen protectors to conform to IS 19348:2025, effective 1 April 2027.

Read: Smartphone Screen Protectors Now Need BIS-Standard Certification: CBIC's Customs Instruction on the New IS 19348:2025 Mandate

GST

PDS Flour Milling Stays GST-Exempt Only Within a 25% Goods-Value Line: West Bengal AAR's Arithmetic in Darjeeling Flour Mills

West Bengal AAR's ruling in Darjeeling Flour Mills works through the 25%-goods-value test for the PDS flour-milling GST exemption under Notification 12/2017-CT (Rate), Sl. No. 3A -- exceed 25% and the full consideration is taxed at 5%.

Read: PDS Flour Milling Stays GST-Exempt Only Within a 25% Goods-Value Line: West Bengal AAR's Arithmetic in Darjeeling Flour Mills